| A | B |
|---|
| consequence of overdrawing your checking account | bounced check fee, stress, overdraft fees |
| budgets make it less likely for you to | overspend |
| variable expenses, discretionary expense, fixed expense | expenses that should be included in monthly budget |
| most millionaires | spend less than the make |
| this type of expense is ALWAYS the same | fixed |
| spending money on entertainment is this type of expense | discretionary expense |
| unexpected emergenices are this type of expense | intermittent expense |
| an expense that the amount can change from week to week is this type of expense | variable |
| guilt, overspending, and crisis are typically removed when you utilize and follow this | a budget |
| treat this budgeting the same as you would with a regular income, prioritize, create list of all expenses | steps to budgeting on an irregular income |
| percentage of americans living paycheck to paycheck | 70 % |
| this budget ensures that every dollar you make is assigned a specific purpose | zero-based |
| you must do this on your own for your bank account | reconcile your account |
| account record wit the most current balance | account register |
| number 1 cause of divorce in U.S. today | stress/ money disagreements |
| works great for managing spending on things that don't normally have a fixed monthly expense | envelope system |
| you must do this if you write a zero-based budget every month | reconcile your bank account |
| this is crucial to financial success | budgeting |
| paypal, debit and credit card are all acceptable payments for | online purchases |
| assigning a portion of your income to saving and investing every month is known as | "paying yourself first" |
| you should have this many bank accounts in order to manage your money | more than 1 |
| the best way to build your savings for your emergency fun= | automatic account transfer |
| Occurs when money is withdrawn from a bank account and the available balance goes below zero | Overdraft |
| A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero | Zero-based budget |
| Series of envelopes that are divided into categories and are used to store cash for planned monthly expenses | Envelope system |
| An item that is brought without previous planning or consideration of the long-term effects | Impulse purchase |
| To match your bank statement with your checkbook | Reconcile |
| A written cash flow plan | Budget |
| Expenses that remain the same from month to month | Fixed |
| Non-essential expenses | Discretionary |
| A summary of all the income and outgo over a certain time period | Cash flow statement |
| Your own record of all your transactions | Check register |
